§ 431.14-120 (amendments pending)
prior approval (90 day wait period)
§§ 41-1606 to 41-1608
prior approval (60 days)
use and file
other p/c lines
§ 41-2706 Reg. tit. 50 §§ 754.10 to 754.40
prior approval use and file (10 days)
title Private passenger auto, taxicabs, motorcycles, homeowners (including mobile homeowners), allied lines, dwelling fire, liquor liability
215 ILCS 5/457; Reg. tit. 50 §2902
use and file (30 days if a competitive market)
215 ILCS 5/457
file and use (30 days if noncompetitive market)
215 ILCS 5/155.18; Medical Liability Rates Regulation 929
file and use
215 ILCS 5/400.1
file and use
group inland marine
other p/c lines, title
© 2006 National Association of Insurance Commissioners
25 of the insureds affected by a rate increase may request a hearing. Burden is on the company to justify a rate increase.
Assumption of competitive market unless hearing by commissioner determines otherwise.
NAIC’s Compendium of State Laws on Insurance Topics
RATE FILING METHODS FOR PROPERTY/CASUALTY INSURANCE, WORKER’S COMPENSATION, TITLE
§ 431:14-104 (amendments pending)
prior approval (30 day wait period)
Commissioner may require insurers to submit new filings for any type of coverage when the commissioner has actuarially sound information that the rates are excessive, inadequate or unfairly discriminatory.
§ 431:20-120 stipulates that title insurers shall keep a complete file of its schedules of premiums and charges and amendments thereto until at least 5 years after they ceased to be in effect. File shall be available for the commissioner’s inspection.
NCCI makes filings.
Ask companies to file their rates.